Ablynx Announces Half Year Results For 2010

GHENT, BELGIUM--(Marketwire - August 25, 2010) -

GHENT, Belgium, 25 August 2010 - Ablynx [Euronext Brussels: ABLX] announced today its results for the six month period ending 30 June 2010, which have been prepared in accordance with the IAS 34 'Interim Financial Reporting' as adopted by the European Union.

H1 2010 Highlights

* EUR121.3 million in cash, cash equivalents and other short term
  investments at 30 June 2010 (2009: EUR101.8 million)
* Revenues of EUR10.1 million (2009: EUR11.9 million)
* Successfully completed a Secondary Public Offering (SPO), raising gross
  proceeds of EUR50.0 million
* Received a EUR2.0 million milestone payment from Boehringer Ingelheim
  on selection of the first Nanobody(®) lead candidate for the
  treatment of Alzheimer's disease
* Awarded EUR1.2 million in grant funding from IWT to accelerate the
  development of ALX-0061, an anti-IL-6R Nanobody for inflammatory
  disease
* Completed the recruitment of the Phase I study for ALX-0141 (anti-RANKL)
* Selected a new pre-clinical development candidate, ALX-0651, which
  targets the GPCR CXCR4, for use in patients requiring hematopoietic stem
  cell mobilization
* Selected ALX-0171, an anti-RSV Nanobody, for pre-clinical development for
  the treatment of respiratory syncytial virus (RSV) infections
* Reported the successful generation of functional Nanobodies against an
  ion channel
* Announced new data on pulmonary to systemic delivery and needle-free
  administration of Nanobodies
* Extended for another year the research collaboration which forms part of
  the license agreement for anti-TNF-alpha Nanobodies with Pfizer
* Successfully opposed a half-life extension patent which had been granted
  to Domantis (a member of the GSK group) resulting in this patent being
  revoked in full
* Reached a settlement with reMYND concerning a collaboration agreement
  dispute
* Won the European Mediscience Award for the second year in a row for 'Best
  Technology'
* Increased staff to over 246 people by period end
* Moved to a new 8,000 m(2) R&D facility

For more information, please contact Ablynx:

Dr. Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
e: edwin.moses@ablynx.com

Eva-Lotta Allan
Chief Business Officer
t: +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 / +44 (0)7990 570 900
e:eva-lotta.allan@ablynx.com


Wim Ottevaere
Chief Financial Officer
t:  +32 (0)9 262 00 08
e:wim.ottevaere@ablynx.com

[HUG#1440305]

Complete version of the press release: http://hugin.info/137912/R/1440305/384658.pdf

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Source: Ablynx via Thomson Reuters ONE